Gold Falls Near $5,000 as Oil Prices Slip on Middle East Tensions
1. MARKET OVERVIEW TABLE
| Commodity | Price | 24h Change | 7d Change | Spot Price |
|---|
| Gold | $5,016.80/oz | -$0.90 (-0.02%) | Data unavailable | $5,016.80 |
| Silver | $79.01/oz | -$2.33 (-2.87%) | Data unavailable | $79.01 |
| Crude Oil (WTI) | $96.90/bbl | -$1.81 (-1.83%) | Data unavailable | $96.90 |
| Crude Oil (Brent) | $102.80/bbl | -$0.33 (-0.32%) | Data unavailable | $102.80 |
| Natural Gas | $3.098/MMBtu | -$0.033 (-1.05%) | Data unavailable | $3.098 |
Vibe: Cautious with mixed sentiment; precious metals face pressure while energy markets react to geopolitical tensions.
🟢 Top Gainers
| Commodity | Price | Change | % | Exchange |
|---|
| Platinum | $2,070.30/oz | +$28.20 | +1.38% | CME |
| Copper | $5.76/lb | +$0.01 | +0.12% | CME |
🔴 Top Losers
| Commodity | Price | Change | % | Exchange |
|---|
| Silver | $79.01/oz | -$2.33 | -2.87% | CME |
| Gold | $5,016.80/oz | -$0.90 | -0.02% | Kitco |
| Palladium | $1,560.00/oz | -$19.70 | -1.25% | CME |
Note: Aluminum, Zinc, Nickel, and Lead data not available from accessed sources.
3. ENERGY COMMODITIES
🟢 Top Gainers
| Commodity | Price | Change | % | Exchange |
|---|
| None reported | - | - | - | - |
🔴 Top Losers
| Commodity | Price | Change | % | Exchange |
|---|
| Murban Crude | $110.80/bbl | -$3.56 | -3.11% | OilPrice |
| Natural Gas | $3.098/MMBtu | -$0.033 | -1.05% | OilPrice |
| WTI Crude | $96.90/bbl | -$1.81 | -1.83% | OilPrice |
| Heating Oil | $3.6887/gal | -$0.0381 | -1.02% | Yahoo Finance |
| Brent Crude | $102.80/bbl | -$0.33 | -0.32% | OilPrice |
4. KEY COMMODITIES DETAILED
Gold
- Price: $5,016.80 per ounce
- 24h Change: -$0.90 (-0.02%)
- 7d Change: Data unavailable
- 30d Change: Data unavailable
- Trading Volume: 71,697 (GC=F futures)
- Key Levels: Day’s Range: $4,968.20 - $5,036.30
Silver
- Price: $79.01 per ounce
- 24h Change: -$2.33 (-2.87%)
- 7d Change: Data unavailable
- 30d Change: Data unavailable
- Trading Volume: 19,874 (SI=F futures)
- Key Levels: Day’s range not available from accessed sources
Crude Oil (WTI)
- Price: $96.90 per barrel
- 24h Change: -$1.81 (-1.83%)
- 7d Change: Data unavailable
- 30d Change: Data unavailable
- Trading Volume: 149,270 (CL=F futures)
- OPEC+ Stance: Data unavailable from accessed sources
Crude Oil (Brent)
- Price: $102.80 per barrel
- 24h Change: -$0.33 (-0.32%)
- 7d Change: Data unavailable
- 30d Change: Data unavailable
- Trading Volume: 23,233 (BZ=F futures)
5. 52-WEEK / ALL-TIME LEVELS
New Highs Today
- None reported from accessed sources
Near Highs
| Commodity | Price | 52W/ATH High | Gap |
|---|
| Data unavailable from accessed sources | - | - | - |
New Lows Today
- None reported from accessed sources
6. WHAT DROVE THE MARKET - DETAILED BREAKDOWN
Geopolitical Events
- Middle East tensions continue to impact energy markets with ongoing concerns about supply disruptions in the Strait of Hormuz
- Fujairah suspended oil loadings following another reported attack, adding to supply constraints
- Multiple reports indicate Iran-related threats and shipping disruptions in key oil transit routes
OPEC+ Decisions
- Data on specific OPEC+ decisions not available from accessed sources
- Market participants monitoring OPEC+ response to supply disruptions
US Dollar Strength
- Data on US dollar strength and its impact on commodities not available from accessed sources
- Dollar movements typically inversely affect dollar-denominated commodities like gold and crude oil
Economic Data
- No specific economic data points were available from accessed sources for this session
- Market sentiment appears influenced by geopolitical risks more than macroeconomic indicators
Supply Chain Issues
- Reports indicate ongoing disruptions in oil shipping routes due to Middle East tensions
- Some sources mention supply constraints affecting crude availability
Weather Events
- No specific weather events reported impacting commodity markets in the accessed sources
China Demand
- No specific China demand data available from accessed sources
- Broader reports suggest global EV sales have slipped with China’s market stalling, which could affect long-term demand for certain metals
India-Specific Factors
- Data on MCX trends, import duties, festive demand, or RBI gold purchases not available from accessed sources
- India typically remains a major consumer of gold and silver
7. SPECIAL MENTIONS
- EIA Weekly Petroleum Status Report: Data not available from accessed sources
- CME Commitment of Traders (COT) Report: Data not available from accessed sources
- SPDR Gold Shares (GLD) ETF flows: Data not available from accessed sources
- iShares Silver Trust (SLV) ETF flows: Data not available from accessed sources
- US Energy Information Administration (EIA) data: General energy information available on EIA website, but specific daily inventory data not accessed in this session
8. TECHNICAL LEVELS
| Commodity | Support | Resistance | Key Moving Averages |
|---|
| Gold | $4,968.20 (session low) | $5,036.30 (session high) | Not available from accessed sources |
| Silver | Not available | Not available | Not available from accessed sources |
| WTI Crude | Not available | Not available | Not available from accessed sources |
| Brent Crude | Not available | Not available | Not available from accessed sources |
9. SUMMARY
Commodities markets on March 16, 2026, showed mixed performance with precious metals facing pressure and energy commodities declining. Gold retreated slightly from the $5,000 level while silver experienced a notable decline of nearly 3%. In the energy complex, both WTI and Brent crude oil prices fell, with WTI dropping 1.83% and Brent down 0.32%. Natural gas also declined by 1.05%. The market sentiment appeared cautious, primarily driven by ongoing geopolitical tensions in the Middle East, particularly concerns about shipping disruptions through the Strait of Hormuz and reports of attacks on oil infrastructure in Fujairah. Platinum bucked the trend, gaining 1.38% amid the precious metals weakness. Market participants are monitoring supply disruptions and geopolitical developments closely, with some analysts noting that supply concerns could continue to support oil prices despite the current decline. Overall, commodities markets reflected heightened uncertainty due to geopolitical risks, with investors balancing safe-haven demand against supply disruption fears.
Details for information purposes only. Don’t treat this as financial advice.